Likely Loans Review |

Likely Loans

Last Update: January 6th, 2017

Address: The Poynt North, 45 Wollaton Street, Nottingham, NG1 5FW.
Branding: Likely Loans. AKA: LikelyLoans.
FCA Licence: 707357.
From: Oakbrook Finance Ltd.
Launched: 2014 (2012 as GuarantorUs).
Memberships: Non.
Related: No companies.

Product Details…
Bad Credit Likely Loans Available?: Yes.
Manage: No Likely Loans login at
Offers: Personal loans.
Opening Hours: Monday to Friday (8am/8pm).
Secure (SSL): Yes.
Sums: £1000 to £5000 (new and returning).
Terms: 12 to 36 months.

The Pricing…
£228.32 /£1000 (12) <0.063%>
£465.68 /£1000 (24) <0.064%>

Notes: Interest comes in at 47.9% APR. Poor credit is considered. You just need some credit history and mustn’t have been made bankrupt in the past 12 months. Once approved, the funds will be sent on the next working day. There is now a login facility on the site, but when clicking through it states that this is still under development.

– Amounts: Anyone can get their hands on £5000. The slider moves in £10 increments, but you can type in any amount to the £1.
– Eligibility: They aren’t aggressive in trying to pull in those with CCJs, defaults etc, but they clearly state that bad/poor credit can still see approval. Their USP is that they can do this and still offer an excellent rate of 47.9% APR. This is the pricing usually set by lenders that require a guarantor to support applications.
– Profile: This company started out as GuarantorUs back in 2012. This guarantor product was packaged well and they used catchy graphics to stand out further. Recently in 2014 a complete rebrand went ahead creating Likely Loans. Guarantor and personal loans were available, but they have now chosen to discontinue support for guarantors. Since switching identity this company has become one of the top searched lenders here. Their popularity has been rising quickly and they have even turned to TV advertising to help spur on growth.
– Pricing: Currently offers the cheapest 12 month loan with bad credit. There has always been a desire for this company to compete on pricing. This was for instance seen when they initially launched as GuarantorUs that was for a short time the cheapest guarantor loan solution.

– 2016 has seen a few changes go through. They no longer trade on Saturdays. They also have a new listed address and their has been a minor change in pricing for a year (was £228.34 now £228.32).
– Guarantor loans are no longer available. On last check, they were priced at 45% APR and tenants could support the application.
– GuarantorUs was formed by Oakbrook Finance Ltd in 2012 (this was stated on their old Facebook page). The site itself was created in summer 2013. The time when this rebrand took place is unclear, but the website itself was registered in June 2014.
– Operations have been trimmed down. Monday to Friday was (8am/8pm) and Saturday was (9am/5pm).
– Terms were 12 to 30 months for the product in focus.